Question

If the interest is compounded half yearly, calculate the amount when the principal is
*7400, the rate of interest is 5% and the duration is one year.​

Answer 1

Answer:

Rs . 758.5

Step-by-step explanation:

We know ,

AMOUNT OF CI = Principal x ( 1 + R/100 )^n

( where n = time of the ci compounded annually )

                          = 7400 x ( 100 + 5 ) ^ 2

                                               100

                            = 7400 x 11025

                                           10,000

                            =  8158.5

Compound Interest = Final amount - Initial amount

                                 = 8158.5 - 7400

                                  = 758.5

Answer 2

Answer:

6644.70

Step-by-step explanation:

• p<1+r/100>t
• 1+5/100=1.05
• 7400×1.05¹²
• 7400×1.795856326
• 13289.33681×1/2
• 6644.70